News
Rail company executive joins Italian incumbent at a difficult time for the telco.
Telecom Italia on Wednesday appointed a new chief executive officer, just over a week after it announced the resignation of former leader Marco Patuano.
Flavio Cattaneo, chief executive of Italian railway company NTV and already a Telecom Italia board member, has held a number of management roles throughout his career, but this is his first in the telecoms industry.
An architecture graduate, Cattaneo’s previous roles include almost 10 years as CEO of energy group Terna and two years as director general of Italian state TV broadcaster RAI. He has also served on the boards of various major corporations, including Domus Italia and Generali Assicurazioni.
He joins Telecom Italia at a turbulent time for the telco.
His predecessor Patuano tendered his resignation last week, reportedly following pressure from new major shareholder Vivendi. The French firm is believed to be keen to turn Telecom Italia into a Southern Europe-focused media group and bring about its exit from Brazil, where it operates through TIM Brasil.
To date, Telecom Italia has shown a reluctance to sell its Brazilian mobile unit, albeit with the caveat that it would consider the right deal, and on Wednesday there was no indication that it will alter this stance going forward.
Cattaneo will be responsible for developing Telecom Italia’s strategic, industrial and financial plans and ensuring "the management and development of business in Italy and South America," the telco said.
